Orders for long-lasting factory goods decreased for the first time in 10 months in February, according to U.S. Department of Commerce data released on Wednesday. New orders for durable goods fell 1.1% to a seasonally adjusted $254 billion in February, compared with January, while new orders for ... READ MORE >
coronavirus
CHART OF THE DAY: New home sales drop 18.2% in February as market cools
The housing market continued to cool off from the torrid pace of last year as bad weather and rising costs took a toll in February. New home sales fell 18.2% last month, compared to January, to a seasonally adjusted 775,000 -- a nine-month low. At the same time, median home prices eased 1% to $349,400 ... READ MORE >
Federal Reserve to end supplemental leverage ratio capital break
The Federal Reserve announced on Friday that it would not extend an important rule accommodation put in place last spring that helped banks continue to lend to small and medium-size businesses as the economic effects of the pandemic took hold. The rule change allowed banks to exclude Treasury ... READ MORE >
CHART OF THE DAY: Signs of increasing foreign investment in the U.S. and the dollar
February data from the government’s Treasury International Capital (TIC) reporting system—which tracks capital flows into and out of the United States—provided another strong signal that the nascent economic recovery is quickly turning into a full-blown expansion. Given the divergence in the ... READ MORE >
Weekly jobless claims: A grim anniversary as claims rise to 770,000
Top-line initial claims for unemployment benefits increased to 770,000 versus an expected decline to 700,000 for the week ending March 13, according to government data released Thursday. There were 282,394 new claims for federal Pandemic Unemployment Assistance, and were 4.12 million continuing ... READ MORE >
CHART OF THE DAY: Deflating the hype on inflation
As the economy continues to recover and is poised for a period of robust expansion, the conversation continues to shift toward the outlook for inflation. While we expect the year-ago effects brought on by the global pandemic to result in a period of moderate reflation in the economy, the longer-term ... READ MORE >
FOMC meeting comment: Welcome to the boomtown
The onset of a recovery in the U.S. economy and the growing likelihood of a robust expansion this year and next resulted in a significant upgrade of the Federal Reserve’s Summary of Economic Projections forecast through 2023. The dovish outlook on the committee is an apt description of the risks to ... READ MORE >
CHART OF THE DAY: Housing market hits the brakes
Throughout the pandemic, a bright spot in the American economy has been housing, which had incredible growth as buyers looking for more space in the suburbs took advantage of historically low interest rates. Homebuilders responded, pushing starts and permits above the projected 1.5 million long-term ... READ MORE >
An evolution of the economy: Living, and adapting, with COVID-19
Over the past year, leaders around the globe have held their breath as the pandemic unfolded and drastic measures were tested, from safety mitigation and scientific developments to unprecedented fiscal stimulus. And now, as we emerge from the cloud of 2020, it is likely the current pandemic will soon pass ... READ MORE >
Retail sales declined 3% in February, but brighter days are ahead
At first glance, the 3% monthly decline in retail sales for February would seem to be a cause for concern. But a look beyond the top-line number reported by the Commerce Department on Tuesday paints a more nuanced picture, one that suggests pent-up consumer demand and the prospect of stronger sales in the ... READ MORE >